Benzinga | Aug 3, 2021 01:26PM EDT

Ryman Hospitality Properties Q2 Revenue Tops Consensus

* Ryman Hospitality Properties Inc (NYSE:RHP) reported second-quarter FY21 revenue growth of 1063% year-on-year, to $170.9 million, beating the analyst consensus of $144.18 million.

* Adjusted FFO per share was $(0.03), versus $(1.65) last year.

* Operating expenses rose 29.8% Y/Y to $201.8 million.

* The operating loss narrowed by 78% Y/Y to $(30.9) million.

* The average monthly cash burn was about $1 million.

* The company held $88.6 million in cash and equivalents as of June 30, 2021.

* It reported an Adjusted EBITDAre of $28.2 million and an adjusted EBITDAre margin of 16.5%.

* "The momentum continues to build and is not limited to leisure customers, as evidenced by the over 114,000 group room nights serviced in the second quarter," said CEO Colin Reed.

* Ryman Hospitality currently expects Q3 cash flow to continue the positive momentum seen in June.

* Price action: RHP shares are trading lower by 0.58% at $75.51 on the last check Tuesday.